The Long Investor

$GOOG TOP 20

Added 2024-11-22 12:31:50 +0000 UTC

So the commentary from last weekend has come through, we got a strong pull back to the 200 Day MA at $165, on a catalyst that the UK competition watchdog want to investigate $GOOG. The chart has so far given us a clear rejection at the Wave B range and now a big test has happened and so far it has held.

Price is back up above the 50 Day MA too now at $169, so it has not broken down and has not lost these important levels yet.

However, the risk has increased and if you are not comfortable holding during this test, then I suggest reducing your risk.
I will see how today goes and how it is moving going into the weekend and make my decision about trimming, I always like to give the price action as much time as possible to recover, likewise with $AMZN at the $200 level now.....it has not held but bulls will likely not give up the fight yet.